Semiconductor and Display Industries Set to Invest 52 Tril. Won by 2024

September 19, 2017 08:58|09 19, 2017 13:51

Chief executives of the nation's leading companies like Samsung Electronics, SK Hynix, and LG Display have made a request to the government to relieve the problem of labor shortage in the area of semiconductor and display.

Kwon Oh-hyun, vice chairman of Samsung Electronics, said on September 18 in a discussion session held in Kensington Hotel in Seoul's Yoido presided over by Minister of Trade, Industry, and Energy Baek Woon-gyu, "Skilled workers are in short supply in fast-growing industries like semiconductor. The government must step in and help the industry foster experienced hands in semiconductor materials and equipment."

The companies including Samsung Electronics, SK Hynix, and LG Display unveiled plans to invest a total of 51.9 trillion won by 2024. For example, Samsung will make investments in semiconductor and OLED plants in Pyeongtaek, Hwaseong, and Asan. As for SK Hyunix, it will put in 15.5 trillion won in its Chungju semiconductor plant. LG Display will also spend 15.0 trillion won in its OLED panel manufacturing works in Paju and Gumi.